The Russian ruble is rebounding, outpacing all other world currencies against the dollar this year. The 20 percent recovery this month alone stands in stark contrast to last year, when U.S. officials smugly pointed to Russia’s plummeting currency as proof that Western sanctions against Moscow for meddling in Ukraine were working.
That doesn’t mean the sanctions no longer have teeth. But it does add another complication to Western leaders’ already difficult task of trying to forge a lasting peace in Ukraine.
Some analysts have ascribed the ruble’s upward march — it took almost 70 rubles to buy a dollar at the end …read more
Source: Foreign Policy
